Kite Realty Group Trust’s (NYSE:KRG) “Outperform” Rating Reaffirmed at Raymond James Financial

Kite Realty Group Trust (NYSE:KRG)‘s stock had its “outperform” rating reaffirmed by equities research analysts at Raymond James Financial in a research note issued to investors on Wednesday, December 20th, MarketBeat reports. They currently have a $23.00 target price on the real estate investment trust’s stock, down from their prior target price of $25.00. Raymond James Financial’s price target points to a potential upside of 26.65% from the company’s current price.

A number of other analysts have also commented on KRG. Robert W. Baird reissued a “buy” rating and issued a $23.00 target price on shares of Kite Realty Group Trust in a report on Thursday, August 24th. ValuEngine raised Kite Realty Group Trust from a “hold” rating to a “buy” rating in a report on Friday, October 6th. Capital One Financial reaffirmed an “equal weight” rating on shares of Kite Realty Group Trust in a report on Tuesday, October 24th. KeyCorp reaffirmed a “hold” rating on shares of Kite Realty Group Trust in a report on Friday, August 25th. Finally, Zacks Investment Research upgraded Kite Realty Group Trust from a “sell” rating to a “hold” rating in a research report on Wednesday, November 15th. One analyst has rated the stock with a sell rating, four have assigned a hold rating and four have given a buy rating to the company. The company presently has an average rating of “Hold” and a consensus target price of $23.80.

Kite Realty Group Trust (KRG) traded down $0.09 on Wednesday, hitting $18.16. The stock had a trading volume of 1,553,969 shares, compared to its average volume of 648,196. The stock has a market cap of $1,530.00, a PE ratio of 121.07, a PEG ratio of 2.02 and a beta of 0.61. The company has a current ratio of 0.84, a quick ratio of 0.84 and a debt-to-equity ratio of 1.06. Kite Realty Group Trust has a 52 week low of $17.60 and a 52 week high of $24.38.

Kite Realty Group Trust (NYSE:KRG) last posted its quarterly earnings data on Thursday, October 26th. The real estate investment trust reported $0.49 earnings per share for the quarter, meeting the Zacks’ consensus estimate of $0.49. Kite Realty Group Trust had a return on equity of 0.80% and a net margin of 3.60%. The company had revenue of $87.10 million during the quarter, compared to analyst estimates of $88.16 million. During the same quarter last year, the company earned $0.52 EPS. The firm’s revenue for the quarter was down 2.2% on a year-over-year basis. sell-side analysts predict that Kite Realty Group Trust will post 2.04 EPS for the current fiscal year.

In other news, CAO Thomas R. Olinger sold 3,157 shares of the business’s stock in a transaction dated Monday, November 20th. The stock was sold at an average price of $19.01, for a total value of $60,014.57. The sale was disclosed in a filing with the SEC, which can be accessed through this hyperlink. Also, CEO John A. Kite sold 17,000 shares of the business’s stock in a transaction dated Monday, December 18th. The shares were sold at an average price of $20.09, for a total value of $341,530.00. Following the completion of the transaction, the chief executive officer now owns 52,712 shares in the company, valued at $1,058,984.08. The disclosure for this sale can be found here. Insiders sold 25,157 shares of company stock worth $497,645 over the last 90 days. Company insiders own 1.87% of the company’s stock.

Several large investors have recently bought and sold shares of KRG. Dalton Greiner Hartman Maher & Co. increased its stake in Kite Realty Group Trust by 3.4% during the fourth quarter. Dalton Greiner Hartman Maher & Co. now owns 820,731 shares of the real estate investment trust’s stock worth $16,086,000 after acquiring an additional 27,302 shares during the last quarter. Public Employees Retirement System of Ohio increased its stake in Kite Realty Group Trust by 3.1% during the third quarter. Public Employees Retirement System of Ohio now owns 96,169 shares of the real estate investment trust’s stock worth $1,947,000 after acquiring an additional 2,881 shares during the last quarter. Cetera Advisors LLC bought a new stake in Kite Realty Group Trust during the third quarter worth approximately $223,000. Eii Capital Management Inc. bought a new stake in Kite Realty Group Trust during the third quarter worth approximately $480,000. Finally, California Public Employees Retirement System increased its stake in Kite Realty Group Trust by 9.7% during the third quarter. California Public Employees Retirement System now owns 229,717 shares of the real estate investment trust’s stock worth $4,652,000 after acquiring an additional 20,225 shares during the last quarter. Institutional investors own 94.32% of the company’s stock.

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About Kite Realty Group Trust

Kite Realty Group Trust is a real estate investment trust. The Company, through its subsidiary, Kite Realty Group, L.P., owns interests in various operating subsidiaries and joint ventures engaged in the ownership, operation, acquisition, development and redevelopment of neighborhood and community shopping centers in selected markets in the United States.

Analyst Recommendations for Kite Realty Group Trust (NYSE:KRG)

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